R1 RCM’s (RCM) “Outperform” Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of R1 RCM (NASDAQ:RCM) in a research note released on Friday, Benzinga reports. Royal Bank of Canada currently has a $19.00 price target on the healthcare provider’s stock.

RCM has been the topic of a number of other reports. Truist Financial reissued a hold rating and issued a $16.00 price objective on shares of R1 RCM in a report on Monday, April 1st. Citigroup upgraded shares of R1 RCM from a neutral rating to a buy rating and set a $16.00 price objective for the company in a research note on Wednesday, March 20th. Cantor Fitzgerald reiterated an overweight rating and issued a $20.00 price objective on shares of R1 RCM in a research note on Wednesday, April 10th. KeyCorp reaffirmed a sector weight rating on shares of R1 RCM in a research report on Wednesday, April 10th. Finally, Morgan Stanley restated an overweight rating and issued a $17.00 target price on shares of R1 RCM in a research note on Tuesday, March 26th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $15.83.

R1 RCM Stock Performance

RCM opened at $12.56 on Friday. The company has a market cap of $5.29 billion, a P/E ratio of -157.00 and a beta of 0.85. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.78. The firm’s 50-day moving average price is $12.44 and its 200-day moving average price is $11.90. R1 RCM has a 52-week low of $8.87 and a 52-week high of $18.70.

R1 RCM (NASDAQ:RCM) last issued its quarterly earnings results on Wednesday, May 8th. The healthcare provider reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.03). R1 RCM had a negative net margin of 1.39% and a negative return on equity of 1.16%. The company had revenue of $603.90 million for the quarter, compared to analyst estimates of $612.88 million. The business’s revenue for the quarter was up 10.7% on a year-over-year basis. As a group, equities analysts anticipate that R1 RCM will post -0.17 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Advisors Asset Management Inc. purchased a new stake in R1 RCM during the 1st quarter worth approximately $27,000. ANTIPODES PARTNERS Ltd boosted its stake in shares of R1 RCM by 429.5% in the fourth quarter. ANTIPODES PARTNERS Ltd now owns 5,623 shares of the healthcare provider’s stock worth $59,000 after acquiring an additional 4,561 shares during the last quarter. Salem Investment Counselors Inc. acquired a new position in R1 RCM in the 4th quarter valued at $61,000. Van ECK Associates Corp lifted its holdings in R1 RCM by 20.5% in the 4th quarter. Van ECK Associates Corp now owns 6,141 shares of the healthcare provider’s stock valued at $65,000 after purchasing an additional 1,044 shares in the last quarter. Finally, QRG Capital Management Inc. acquired a new stake in R1 RCM during the 1st quarter worth $132,000. Institutional investors and hedge funds own 61.10% of the company’s stock.

About R1 RCM

R1 RCM Inc provides technology-driven solutions for the financial performance and patient experience of health systems, hospitals, and physician groups. It provides operating partnership/end-to-end solutions, which manages multiple aspects of the revenue cycle to realize financial leverage and revenue improvement for hospital and physician customers.